Real Estate Market Trends

Ocean County NJ Real Estate Market Update

The real estate market in Ocean County NJ is moving forward at a good pace with more new listings coming on the market, and median sales prices and closed sales on the rise.

Let's look at little closer at how the first six months of 2015 compares with the same period last year in three residential real estate categories:  single family detached homes, townhomes/condos, and adult community homes.

Monmouth County Market Update - June 2015

Let's take a look at the real estate market in Monmouth County for the first half of 2015 compared to the same period last year for our three single-family home categories; detached, attached, and adult communities.  Homes in all categories are selling quickly . . . an average of 83 days for single-family detached, 78 days for single-family attached, and 64 days for homes in adult communities.

Single Family Detached Homes

  • New listings are up by 6.4%, and there is curently an 8.8 months supply of homes on the market.
  • Closed sales up 6.3%, with 2,308 closings for the first half of 2015.
  • The median sales price is nearly unchanged at $390,000.

National Real Estate Market Update May 2015

The news is all good for the real estate industry, which is good for homeowners, home buyers, and the general economy. 
Existing home sales, new home building and sales, and pending contracts are all on the rise.  Watch the video and get all the details.

Real Estate Market Update

Many local housing markets are hot right now, with multiple offer situations and bidding wars in markets that have the strongest house price appreciation and job growth.

Builders are expected to bring more homes to the market this Spring and Summer for the first-time buyer.  Property values are rising, which will help millions of homeowners get out from underwater, emerge from negative equity and enter the “for sale” market. Also, with continued employment growth and an expected increase in family incomes, this could lead to a more active real estate market.

Housing Affordability in Monmouth, Ocean & Middlesex Counties NJ

Want to know what the housing cost share of income is in Monmouth, Ocean, and Middlesex Counties compared to other New Jersey counties?  

Check out this interesting map.  For our 3-county area residents spend, on average, 22-27% of their income on total housing costs, which includes their mortgage principal and interest, taxes, and insurance.

Monmouth County Market Update -- January 2015

Lets take a look at the Monmouth County real estate market statistics for Single Family Detached Homes, Townhouses/Condos, and Adult Community Homes comparing January 2015 with January 2014.

Single Family Detached Homes

The median sales price in January 2015 was $360,000, up slightly from January 2014's $358,250, and it took approximately the same amount of time to sell a home (93-95 days) this year as last year.  The inventory of available homes for sale was down in January 2015 with 6.7 months supply compared to 7.6 months in January of 2014.   Closed sales were also down for the month of January 2015, from 306 in 2014 to 242 this year, and the number of new listings that entered the marketplace was about the same.  

Century 21 Market Update August 2014

What's happening in the real estate market as of August 2014?  What are the trends and what do they mean for homeownership?  Watch this short video to learn what Rick Davidson, President of Century 21 Corporation has to say.

Real Estate Market Update June 2014

How is the real estate marketing doing from a national perspective?  Check out Rick Davidson's June 2014 Real Estate Market Update.

Housing Market’s ‘Normal’ State Difficult to Gauge

Housing Market’s ‘Normal’ State Difficult to Gauge - (MCT)—This might be the year in which U.S. housing markets return to normal, judging by real estate industry statements and predictions. But what exactly is “normal” in housing, and how close are local markets to that standard? One way to measure “normal” is to consider home sales, which totaled 5.09 million in 2013, according to […] [RisMedia Consumer News]

What's Ahead For 2014 Housing Market

The housing recovery hit high gear in 2013 with bigger than expected price gains and solid home sales. This year isn't likely to be as exciting. Rising mortgage interest rates will price out some potential buyers. Instead of double-digit price gains, look for single-digit ones, economists say, while existing home sales remain at last year's level.

Sound boring? "You want boring in the housing market," says Svenja Gudell, Zillow director of economic research.

Here's what's ahead for: